U.S. threatens further Turkey sanctions if pastor not freed

The White House has said that Turkey'stariff hikes on U.S. products in retaliation for sanctions against Ankara were "regrettable" and again called for the immediate release of American pastor Andrew Brunson.

A USA dollar banknote is seen on top of 50 and 100 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018.

The currency lost almost 40 percent against the dollar this year, driven by worries over President Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation.

Qatar said it would provide "a host of economic projects, investments and deposits" worth $15 billion to support Turkey's economy.

Analysts say Turkey is also likely to seek a more dynamic economic relationship with China and Russian Federation, with whom ties have warmed considerably in recent years.

A Trump tweet on Friday announcing a doubling of aluminum and steel tariffs for Turkey triggered the rout in the currency markets.

On Monday the lira hit a record low of 7.2, dragging down other emerging markets currencies.

'Queen of Soul' Aretha Franklin has died
Her last live performance took place at Elton John's 25th anniversary gala for the Elton John AIDS Foundation in November 2017. Franklin did not perform regularly for many years, partly because of an aversion to flying after a rough trip in 1982.

Motorola P30 Looks More Like iPhone X Than iPhone X Itself
Motorola said this new phone , called the P30, will see a greater availability around the globe; there's just no word yet on when. The new smartphone from Lenovo owned Motorola looks exactly similar to Apple iPhone X with Huawei's gradient finish paint job.

Tensions between the two North Atlantic Treaty Organisation allies have been strained amid Turkey's detention of American pastor Andrew Brunson.

Global investors have been anxious by Turkey's high levels of foreign debt and Erdogan's refusal to allow the central bank to raise interest rates to support the currency, as experts say it should.

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